ICE canola midday: Range-bound is the ‘order of the day’

By Glen Hallick, MarketsFarm

WINNIPEG, August 22 (MarketsFarm) – ICE Futures canola contracts were trading either side of steady at midday Thursday as bids remain range-bound, said a Winnipeg-based trader.

“The range has been quite tight for a while, but it seems to be getting tighter and tighter as time goes on,” he commented.

The trader noted canola has been well supported, although Chicago soyoil was “crimping canola a little bit” at midday.

He said there has been nothing of significance to spark canola bids either way. However, that could change with the production estimates from Statistics Canada out August 28 and the next supply and demand report from the United States Department of Agriculture on September 12.

The Canadian dollar was lower at midday at 75.17 U.S. cents.

Approximately 6,700 canola contracts were traded as of 10:32 CDT.

Prices in Canadian dollars per metric tonne at 10:32 CDT:

Price Change
Canola Nov 451.80 dn 1.30
Jan 459.60 dn 0.90
Mar 467.30 up 0.50
May 472.40 up 0.10

Futures Prices as of August 22, 2019

Canola
Price Change
Milling Wheat
1970-01-01 00:00
Price Change
Durum
1970-01-01 00:00
Price Change
New Barley
1970-01-01 00:00
Price Change

Prices are in Canadian dollars per metric ton

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